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Here are seven avoidable mistakes when it comes to splitting assets as part of a divorce. 1. Keeping the marital home when it’s not financially feasible.
Most options for dividing equity in divorce involve first assessing the property’s value. This step is crucial because it determines home equity, the difference between the property’s market ...
By conducting an analysis of all accounts, investments and properties, a divorce financial advisor can help you avoid costly mistakes when dividing assets. Post-divorce, an advisor can help you ...
The community property concept originated in civil law jurisdictions but is now also found in some common law jurisdictions. U.S. states with community property laws draw primarily from the marital property laws under the civil law of France and Spain. [10] Division of community property may take place by item by splitting all items or by values.
In many cases, a two-step process may be required: (1) a trial, [8] during which oral and documentary evidence is heard, and either affirms or denies the right of the moving party to effect a partition of the subject property(s), and, if affirmed, results in an interlocutory judgment (sometimes called a "first interlocutory judgment"), and (2 ...
The Uniform Marriage and Divorce Act §307 (UMDA §307) [3] also allows for the equitable distribution of property and lists factors the court should consider, e.g. "the duration of the marriage, and prior marriage of either party, antenuptial agreement of the parties [which is the same as a prenuptial agreement or premarital agreement], the ...
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Community property (United States) also called community of property (South Africa) is a marital property regime whereby property acquired during a marriage is considered to be owned by both spouses and subject to division between them in the event of divorce. Conversely, property owned by one spouse before the marriage, along with gifts and ...
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